Global Britain’s non-EU trade deals now total over £240bn per year - 24.08.22
71 non-EU countries now have trade agreements with the UK – ‘despite Brexit’ say Facts4EU.Org and CIBUK.Org who reveal the extent of Brexit Britain’s success in international trade.
In today’s report Facts4EU.Org and CIBUK.Org can reveal just how well the UK has been doing in securing various forms of trade agreements around the world. Based on official ONS trade data we show that these 71 non-EU27 agreements now account for over £240bn of trade per year.
We are grateful to the Department for International Trade for assisting us with the information for this report.
Brexit Facts4EU.Org Summary:
Trade agreements now in effect
98 countries and counting
The UK government has agreed trade deals with 71 countries - plus the EU27
Excluding the EU, trade with these countries was worth £240bn in 2021
These non-EU27 trade agreements account for 63.2% of total UK trade
UK trade with the 71 non-EU countries increased by 16.5% in 2021
UK trade with the EU27 only grew 4.4% in the same period
As of 01 January 2021, EU trade agreements no longer applied to the UK. The Dept for International Trade (under Liz Truss at that time) had already been working on replacing these.
Yesterday we published a report showing how the current Secretary of State for International Trade, the Rt Hon Anne-Marie Trevelyan MP, has not only been working on more major trade deals, but has also been able to put in place a trading arrangement for 65 emerging economies.
The UK has sought to reproduce the effects of trading agreements that previously applied to it to ensure continuity for UK business. Today’s report summarises how well the UK has done
The UK also has a trade deal with the 27 EU countries - total 98
Adding the 27 EU countries to the list of 71 we have provided above takes the total to 98 countries.
In addition - and as we reported yesterday - the Department for International Trade has now agreed preferential trading terms with 65 emerging economies.
What next for the Dept for International Trade?
The government has ambitious plans to secure bilateral trade agreements with countries accounting for 80% of UK total trade within three years of having left the EU, including with some major partners.
This work includes those countries the Government sought continuity for under our previous EU trade agreements, as well as all other trade agreements to date that were outside the scope of the programme, such as the UK-Japan Comprehensive Economic Partnership Agreement.
For the full report, please click on this link:
It has to be said that for the years since the British public voted to leave the EU, there have been those who saw fit to ‘do the country down’, suggesting that the UK’s international trade would ‘fall off a cliff’.
When that didn’t happen, they sought to ridicule the idea that countries would want to sign trade deals with an independent Brexit Britain.
Our report today shows unequivocally that countries have been queueing up to do trade deals with the UK. Not only that but we have revealed exclusively how this trade was worth over £240bn last year, has grown by 16.5% since the previous year, and looks set to grow even more as time goes by.
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[ Sources: Dept for International Trade | ONS ] Politicians and journalists can contact us for details, as ever
Brexit Facts4EU.Org, Wed 24 Aug 2022